Pune, India, Jan. 27, 2023 (GLOBE NEWSWIRE) -- The global Point of Care Diagnostics Market size was valued at USD 46.65 billion in 2021. It is estimated to rise from USD 36.37 billion in 2022 to USD 51.94 billion by 2029, at a 5.2% CAGR during the forecast period. Fortune Business Insights™ has shared this information in its latest research report titled, “Point of Care Diagnostics Market Forecast, 2022-2029.” The point of care diagnostics market report provides complete information regarding recent developments and trends in the industry. Also, development strategies adopted by the key market players such as mergers, acquisitions, alliances, and partnerships are highlighted further in this report.
Key Industry Development:
Celltrion Group announced the SARS-CoV-2 point-of-care antigen diagnostic kit. This will help expand access to COVID-19 diagnosis management and treatment globally.
Thermo Fisher Scientific and Color Health collaborated to launch a k-12 readycheckgo covid-19 testing solution for Texas schools.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 5.2% |
| 2029 Value Projection | USD 51.94 billion |
| Base Year | 2021 |
| Market Size in 2022 | USD 36.37 billion |
| Historical Data | 2018 to 2020 |
| No. of Pages | 182 |
| Segments covered | Product, Sample, End-Users and Geography Region |
Key Takeaways:
- The Demand for diagnostic products among patients is likely to increase in the coming years, driving growth in the POC diagnostics market.
- New technologies for manufacturing POC test kits should drive global market growth over the forecast period.
- The high prevalence of the diseases is a key driver of demand for POC diagnoses during the forecast period.
- North America had revenues of $14.48 billion in 2021 and is expected to dominate the market over the forecast period.
Market Drivers:
Rising Adoption of Decentralized Healthcare Systems To Propel Growth
The market for point of care diagnostics is expected to grow significantly during the forecast period due to increasing incidences of chronic diseases and the rising spread of infectious diseases. Also, the growing inclination towards decentralized health systems is expected to drive the market. Furthermore, key market players' adoption of recent developments and technological advancements in the industry is projected to fuel the market during the forecast period. These factors are expected to ensure point of care diagnostics market growth in the coming years.
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Segments:
Blood Sample Segment Dominates The Market To Conduct Various Disease Diagnosis
By product type, the market is divided into blood glucose monitoring, infectious disease testing, cardiometabolic disease testing, pregnancy & fertility testing, hematology testing, and others.
Based on the sample, the market is segregated into blood, nasal & oropharyngeal swabs, urine, and others.
On the basis of end-user, the market is segmented into hospital bedside, physician’s office lab, urgent care & retail clinics, and home & self-testing.
Geographically, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Regional Insights:
North America Holds Highest Market Share Due to Favorable Reimbursement Policies
North America dominates the global point of care diagnostics market share due to increasing cases of infectious diseases and the rising prevalence of chronic diseases among the population. The North American market stood at USD 14.48 billion in 2021. The regional market growth is expected to continue during the forecast period due to favorable reimbursement policies that are anticipated to boost the service demand.
Europe is expected to hold the second-highest position in the global market during the forecast period due to the increasing production of innovative products. Also, increasing government investment in R&D is expected to drive regional market growth.
Competitive Landscape:
Key Players Launch New Products To Enhance Their Product Portfolio
The key market players focus on implementing beneficial business growth strategies such as forming strategic alliances and collaborating with the supporting organizations. Also, implementing recent technologies and innovative product development ideas allow companies to improve their overall business performance and propel market growth.
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List of Players Profiled in the Point of Care Diagnostics Market Report:
- F. Hoffmann-La Roche Ltd (Switzerland)
- Thermo Fisher Scientific Inc. (U.S.)
- Abbott Laboratories (U.S.)
- Quest Diagnostics Incorporated (U.S.)
- BD (U.S.)
- bioMérieux SA (France)
- Cardinal Health, Inc. (U.S.)
- Mesa Biotech (U.S.)
- Cepheid (U.S.)
- Trinity Biotech (Ireland)
- Quidel Corporation (U.S.)
- Bio-Rad Laboratories Inc. (U.S.)
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Insights
- Overview: Details on Causative Agents Responsible for Infectious Diseases
- Prevalence of Key Disease Indications– For Key Country/Region
- Technological Advancements in the Point of Care Diagnostics
- New Product Launch
- Overview of Regulatory Scenario
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
- Overview of COVID-19 Impact on POC Diagnostics Market
- Major Factors Driving the Impact of COVID-19
- Reimbursement Changes in Response to COVID-19 Impact
- Opportunities Offered by the Impact of COVID-19
- Overview of Global IVD Market, 2021
- Global Point of Care Diagnostics Market 2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Blood Glucose Monitoring
- Infectious Diseases
- Cardiometabolic Diseases
- Pregnancy & Infertility Testing
- Hematology Testing
- Others
- Market Analysis, Insights and Forecast – By Sample
- Blood
- Nasal and Oropharyngeal Swabs
- Urine
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospital Bedside
- Physician’s Office Lab
- Urgent Care & Retail Clinics
- Homecare/Self-testing
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America POC Diagnostics Market Analysis, Insights and Forecast, 2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Blood Glucose Monitoring
- Infectious Diseases
- Cardiometabolic Diseases
- Pregnancy & Infertility Testing
- Hematology Testing
- Others
- Point of Care Diagnostics Market 2029 Analysis, Insights and Forecast – By Sample
- Blood
- Nasal and Oropharyngeal Swabs
- Urine
- Others
TOC Continued…!!
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